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KostiaForexMart  
#781 Posted : Tuesday, May 21, 2019 6:06:17 AM(UTC)
KostiaForexMart


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Joined: 3/22/2019(UTC)
Posts: 19
Germany

EUR/USD Daily Analysis: May 21, 2019

The euro major pair had a better trading than yesterday, which means that there is a chance for a recovery of the pair. Despite the rally of the US dollar, the EUR/USD pair dropped by 0.19%. There was some fresh bids on the USD index prior to the positive data from the US.

The US-Sino trade talks influenced the overall tone of the dollar traders to decrease. Just recently, some companies such as Huawei, Chinese Giant Telecommunication Equipment Company were blacklisted in the US, which then affected the Chinese business. After the news, Huawei clients had retreated, as well as, another chipset manufacturer from Europe. Meanwhile, updates for Android was suspended by Google.

Investors are concerned with the backlash of China against the action of the US. At the same time, this adds pressure over dollar with the continuous uncertainty from trade talks. The EUR/USD pair gained advantage on the weakened dollar.

For today, there is no major events from Europe today except for the Consumer Confidence Index for the month of May from the European Commission. The market perceives the pair to remain a bit bullish at the present condition.

The dollar has already increased prior to the Housing data from the US with a rising forecast. Yet, the increase in the USD index gives a downward pressure to the pair.

The pair has established a downward movement towards the lower boundary of the Bollinger bands. The RSI showed a trend similar to the pair with the range between 35 and 40 levels. It may mean a low momentum and weak interest from investors. At the same time, it seems that there is a low volatility to the pair given the shorter gap between bands of the pair. Resistance levels are expected around 1.1175, 1.1185, and 1.1225 and support close to 1.1136 and 1.1111 levels.
Regards, ForexMart PR Manager
KostiaForexMart  
#782 Posted : Wednesday, May 22, 2019 7:12:08 AM(UTC)
KostiaForexMart


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Joined: 3/22/2019(UTC)
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Germany

EUR/USD Daily Analysis: May 22, 2019

In the beginning, the euro major pair shows a high chance of recovery. Although the pair attempted for a breakout, it failed to surpass the resistance level of 1.1164. Moving forward, the pair stayed close to the level of 1.1155, showing an opposite downward curve.

On the eve, the pair rose by 0.13% soon after the release of May’s agreement. Nonetheless, the pair could not settle gains and return to the lower level.

With the continued uncertainty for the US-Sino trade war that seems to be moving wrongly. As well, as the damages incurred with the issue with Huawei. This adds pressure to the whole global economy.

Any unexpected result may bring in volatility to the pair while the market presently had high hopes to Brexit, which then plunge the pair downward.

The Fed chief has a scheduled speech for today to discuss the matter of interest rates and other economic concerns. Previously, Draghi said that there is a possibility to keep the interest rates unchanged. The FOMC minutes of the meeting is the focus for today, which will likely have a high impact on the US dollar index.

The trend of the EUR/USD pair seems to be having a bearish tone with the price below the baseline of the Ichimoku clouds on the trend. The further it goes down, the more that it will likely sell. The RSI showed the pair’s movement staying between 50th and 40th figure. It signifies moderate buying and slight interest of investors. The price of the pair was initially at 1.1160 and then declined to 1.1153. In case of a further decline, the pair may find support at 1.1142 and oppositely, it will likely go up until the resistance of 1.1188.

Regards, ForexMart PR Manager
KostiaForexMart  
#783 Posted : Thursday, May 23, 2019 5:43:01 AM(UTC)
KostiaForexMart


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Joined: 3/22/2019(UTC)
Posts: 19
Germany

EUR/USD Daily Analysis: May 23, 2019

The euro major pair declined on Thursday morning from 1.1155, aiming for a breakdown at the support level of 1.1149. Today, there will be the EU Parliamentary Elections which may greatly affect the pair and further be pressured.

On the other hand, the Brexit is presumed to take place prior to the elections. Nonetheless, PM Theresa May could not finish the Brexit matter. France was allocated with a spot to the Union but the UK is still participating and everything has to have their own places.

On the other hand, the US dollar surpasses the level of 98.12 which as more pressure to the EUR/USD pair with the USD index. The FOMC minutes of the meeting was released last night and it was unexpected for them to keep the rates the same. At the same time, the minutes have mentioned that the current economic situation is less likely to have a big impact on the currencies.

For the Fundamental reports, data on Manufacturing PMI for Germany and the Eurozone are scheduled to be released today. These have to be monitored as it may greatly affect the pair. Moreover, German GDP, Services & the Composite PMI, German Expectations from IFO, the Business Climate, and the Current Assessment are expected as well.

On the US side, reports on Continuing and Initial Jobless claims figures, Markit PMI for the Services, Manufacturing and the Composite of both sectors are anticipated by everyone. Aside from that, we have the New Home Sales and the Sales Change report to monitor as well.

Traders should be mindful of the initial buying on the start of the European trading session as the candle closes on the hourly chart. The resistance above 1.1150 gives a stronger resistance, which was tested for support several times in the previous week. In case that the pair resumed a breakout, sellers may see mix strategies close to the resistance around 1.1170. There seems to be a horizontal level that limits aside from the upper line from the descending channel which restricts the price movement in mid-May. Overall, seeing a marginal breakdown close to the early May low at 1.1135 had encountered some puny stops from weak traders. It could further go down to 1.1109 in case of a continuous descent. Meanwhile, bears’ attention is on the support of 1.1135 towards 1.0975 to 1.10.
Regards, ForexMart PR Manager
KostiaForexMart  
#784 Posted : Friday, May 24, 2019 7:43:31 AM(UTC)
KostiaForexMart


Rank: Member

Groups: Registered
Joined: 3/22/2019(UTC)
Posts: 19
Germany

EUR/USD Daily Analysis: May 24, 2019

The euro meets pressure again during the Thursday session with the looming from the markets again. Presently, we cannot be certain on what pushed this trend to occur but we can just base it on the common reasons. One of which is a trade war between the US and China. Directly stating the situation, it seems there is more from what is happening. Hence, the present market reflects the standing of the US dollar.

If we look at the price, significant support is found at 1.11, which will likely be tested during the trading session. If the price breaks lower than the daily close, it will pave its way towards the level of 1.10. However, this pair will not exactly be an easy run. Although, I’d say that it won’t be long before the buyers return in the market. Furthermore, we should also focus our attention on how the daily candle forms. If it bounces from here, the next probable target level will be 1.1150. Needless to say, this pair isn’t exactly best to trade at the moment. It is quite tight, which is usual but that makes it the latter option in gaining profit. Scalpers are primarily the ones who will gain an advantage of this and the level of 1.11 is a good level to start off as it may offer a slight jump.
Regards, ForexMart PR Manager
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